GFPT Public Company Limited (SET: GFPT) has announced its 2024 consolidated financial statement through the Stock Exchange of Thailand as follows;
| Year | 2024 | 2023 |
| Net Profit (Loss) Million Baht |
1,973.82 | 1,376.57 |
| Earning Per Share (Baht) |
1.5700 | 1.1000 |
| % Change | 43.39 | |
GFPT reported a net profit of THB 1.973 billion, showing an increase of 43.4% compared to 2023’s performance. This was mainly the result of lower feed raw material cost and higher share of profit from associated companies.
GFPT Group’s total revenue from sales was THB 19.314 billion in 2024, representing an increase of THB 335.08 million or 1.77% from 2023. This was due to higher revenue from the export of processed chicken products.
The revenue from the food segment in 2024 consisted of revenue from direct export of cooked chicken products and fresh frozen chicken meat, indirect export of chicken meat, domestic sales of chicken parts, chicken by-products, and processed food products such as chicken sausage, and collectively represented 49.72% of revenue from sales.
In 2024, the revenue from the food segment was THB 9.603 billion, increased by THB 496.36 million or 5.45% from 2023 predominantly due to higher sales volume of export processed chicken products.
The Company’s total export of chicken products for 2024 was 36,600 metric tons, increased by 7,300 tons or 24.91% from 2023 mainly due to the increase in export volume of processed chicken products to the United Kingdom.
Japan remained to be the most important export market of Thai chicken meat products. Thailand exported about 489,024 tons of chicken meat products to Japan, an increase of 6.42% from 2023.
The United Kingdom was the second largest export market of Thai chicken meat with an export volume of 206,262 tons, an increase of 21.72% from previous year, followed by the European Union at 165,071 tons, increased by 16.11% from 2023, and China at 114,887 tons, decreased by 0.31% from 2023.
The cost of sales for 2024 was THB 16.645 billion, decreased by THB 154.07 million or 0.92% from 2023 and the gross profit in 2024 was THB 2.668 billion, increased by THB 489.15 million or 22.44% from 2023 primarily due to lower cost of feed raw materials which are maize and soybean meal.
The cost of sales for 2024 made up for 86.18% of the revenue from sales, a decrease from 88.52% in 2023, while the gross profit margin made up for 13.82% of the revenue from sales in 2024, an increase from 11.48% in 2023.
The consolidated share of profit from associated companies based on the equity method in 2024 was THB 834.46 million, increased by THB 299.78 million, or 56.07% from 2023.
